Friday May 03, 2024

Joey Patino Is Mastering Vertical Integration in Real Estate and Small Business | Ep. 66

Summary

Joey Patino, a young entrepreneur, shares his journey of building a vertically integrated real estate business in Portland. He discusses the various companies they have, including boutique hotels, a management and cleaning company, a furniture store, a design and staging company, a development company, and a construction side. Joey emphasizes the importance of culture in their business, where they value bluntness, open communication, and a willingness to challenge each other. He believes that people naturally gravitate towards positive and energetic individuals, and he strives to be an asset to his family, team, and business partners. Joey also shares the lessons he has learned, such as the concept of non-linear growth and the importance of humility and being open to different perspectives. Joey Patino discusses the importance of choosing business partners wisely and the benefits of having partners in business. He shares his personal fear of being poor and how having partners has provided him with financial security and peace of mind. Joey emphasizes the importance of character, good relationships with family, and treating others with respect when selecting business partners. He also dispels misconceptions about the Airbnb industry and the Portland market, highlighting the need for full-time commitment and realistic underwriting. Joey's why is to bring energy to any situation and create an infectious culture, grounded in faith and authenticity.

Takeaways

Building a successful business requires a strong culture that values open communication, bluntness, and a willingness to challenge each other.
Being positive, energetic, and an asset to others can attract people and create a supportive team.
Non-linear growth is a concept that helps put things into perspective and reminds entrepreneurs to be patient and persistent.
Humility and the ability to be open to different perspectives are important traits for personal and professional growth.
Having business partners can provide diverse skills and perspectives, and help mitigate risks. Choose business partners wisely and ensure they have good character and a strong relationship with their family.
Having partners in business provides financial security and peace of mind.
The Airbnb industry requires full-time commitment and realistic underwriting.
Portland has a lot to offer despite its challenges, and the market can only go up from here.
Bring energy to any situation and create an infectious culture grounded in faith and authenticity.